BRIEF-Superior Plus to sell construction products distribution business for $325 mln

Tue Jul 5, 2016 7:16am EDT
 
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July 5 (Reuters) - Superior Plus Corp :

* To sell construction products distribution business to Foundation Building Materials, LLC

* Transaction will also initially result in a reduction of superior's adjusted operating cash flow from date sale is completed

* Proposed reduction of indebtedness under credit facility is expected to lower co's leverage ratio to range of about 2.0 - 2.5x EBITDA

* Superior plus to sell construction products distribution business for us $325 million

* Proceeds from sale of CPD segment will initially be used to repay indebtedness under superior's credit facility Source text for Eikon: Further company coverage: